Universal Display (OLED) Downgraded by BidaskClub to Hold
Universal Display (NASDAQ:OLED) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
Several other analysts have also weighed in on OLED. Susquehanna Bancshares reiterated a “positive” rating and set a $150.00 target price (up previously from $120.00) on shares of Universal Display in a research note on Wednesday, August 9th. Goldman Sachs Group reiterated a “buy” rating and set a $150.00 target price (up previously from $140.00) on shares of Universal Display in a research note on Wednesday, August 9th. Oppenheimer reiterated a “market perform” rating on shares of Universal Display in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Universal Display from a “hold” rating to a “strong-buy” rating and set a $136.00 target price for the company in a research note on Thursday, August 10th. Finally, Deutsche Bank began coverage on shares of Universal Display in a research note on Wednesday, August 30th. They set a “buy” rating and a $135.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $155.30.
Universal Display (NASDAQ OLED) traded up $5.35 during mid-day trading on Wednesday, reaching $172.70. 1,942,619 shares of the company’s stock traded hands, compared to its average volume of 960,116. Universal Display has a 12-month low of $55.30 and a 12-month high of $192.75. The company has a market capitalization of $8,123.98, a price-to-earnings ratio of 84.66 and a beta of 1.06.
In other news, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider now owns 152,932 shares of the company’s stock, valued at $22,939,800. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,974 shares of company stock valued at $30,133,174. Corporate insiders own 5.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of OLED. Schroder Investment Management Group acquired a new stake in Universal Display in the second quarter worth about $25,450,000. Newbrook Capital Advisors LP lifted its holdings in Universal Display by 49.4% in the second quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock worth $60,981,000 after purchasing an additional 184,683 shares during the period. Columbus Circle Investors lifted its holdings in Universal Display by 24.1% in the third quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock worth $108,690,000 after purchasing an additional 163,569 shares during the period. Neuberger Berman Group LLC lifted its holdings in Universal Display by 17.8% in the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock worth $92,028,000 after purchasing an additional 107,751 shares during the period. Finally, Scout Investments Inc. acquired a new stake in Universal Display in the third quarter worth about $12,515,000. 65.03% of the stock is owned by institutional investors and hedge funds.
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Universal Display Company Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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